Co-founder of Ripple and angel investor, Chris Larsen recently talked to Forbes about blockchain industry, globalization and the Internet of money. Larsen also shared his insights into interoperability while giving own predictions regarding future developments of the field.
While talking about Ripple and globalisation Larsen stated blockchain technology to be the so called “fundamental problem” they have been aiming at solving with their products from the very beginning. “You really can’t have globalization which is workable unless you have interoperability in 3 things: data, goods and money. We only have those in two things, data and goods. Without the money part globalization just doesn’t work its incomplete”, explained the co-founder.
His key point here included blockchain representing the finishing of an Internet of Value which is the completion of globalization. “I think that there was a much better chance of things working now, with the advancement of blockchain technology”, stated Larsen.
While commenting on cryptocurrencies, he stated that his prediction is that digital currency that has no government behind it would be invented very soon. Larsen went on commenting: “I think that evolved into this excitement around it saying, hey that’s not just about the currency, but fundamentally, it’s about wiring and internet for money”.
As Larsen went on talking about Internet of Money, he stated the movement of the world means that the commoditization of the Internet is oncoming. “Suddenly every entrepreneur, every bank, every currency in the world has unlimited reach. Right now that’s not the way it is and that’s just exactly what happened for data, and now it is happening for money”, explained the co-founder of Ripple.
Eventually, Larsen expressed high hopes in the development of the field which are in direct contact with the on-going globalisation in the market. “I think this is really going to clear a lot of the friction that’s kind of getting in the way of the promise that globalization was supposed to bring”, he concluded.